Intro to Business and Personal Finance

[scherrd]

In a moment of weakness I decided to try and knock out two tests in one sitting.

Intro to Business: I took this test first. The only thing that I had done was go over the IC flash cards one time and then looked over parts of them once more. Total of about 4-5 hours. This was a CBT test so I didn't have to wait for results. There were 100 questions. It took me 30 minutes to complete, then another 10 to review questions. I counted 13 that I had no idea on. Passed with a 67. I wanted to do a brain dump, but I don't remember any of it.

Then...

Personal finance: Since there were no flashcards, I used the Peterson's test guide, scored 37 out of 60 on that and reviewed those areas that I did not know too much about. There were 98 questions on this test; it took me one hour to complete and another 10 minutes for review again. Scored a 65.

Here are some of the high points that I remember:

Know about risk
Be able to calculate interest over time. If you have financial calculator and know how to use it, it would really help.
Retirement plans and IRAs and Keogh, which are tax deductible, deferred, etc.
Bonds
Types of taxable and non-taxable income
Bankruptcy and Credit problems
Credit cards
Mortgages: PITI, escrow, qualifying
Stocks :P/E, EPS
Installment loans

That is all that I remember at this point. I hope this helps someone

[mapalo]

Congratulations that is really good

Mapalo

[bceagles]

Congrats! From what I've experienced and read on forums, these 2 exams can be taken with very little prep!